Romania Jan Trade Gap Narrows On Rising Exports, Imports

It said the January trade deficit narrowed to EUR426.8 million, from a gap of EUR692.6 million in the same month a year earlier.

Vehicles made up for the bulk of exports and imports in January, amounting to 43% of overall exports and 35% of the imports, data showed.

In January compared with the month earlier, Romanian exports were down 1.5%, while imports fell by 15%.

Romania’s trade with the European Union accounted for 75.3% of the total exports and 70% of the imports in January.

Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs.

Romania’s trade deficit narrowed to EUR9.74 billion in 2009, from EUR23.51 billion a year earlier, with imports falling more rapidly than the exports.